Bikaji Foods International, the third largest ethnic snacks company in India, on Monday fixed the price band for its forthcoming initial public offer (IPO) at Rs 285-300 a piece.
The anchor book for the IPO will open on November 2, Wednesday.
Last heard, the IPO was commanding a grey market premium (GMP) of Rs 70 in the grey market.
Bhujia accounts for nearly 35 per cent of its sales.
As far as the company's financials are concerned, Bikaji’s revenue from operations climbed 22.90 per cent yoY to Rs 1,610.96 crore in FY22 compared with Rs 1,310.75 crore in FY21, primarily due to increase in volume and realisation of products, in particular bhujia, namkeen, papad, western snacks and packaged sweets.
For the three months ending June 30, revenue from operations stood at Rs 419.16 crore while the net profit was at Rs 15.70 crore.
Source: BusinessToday
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